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Weak earnings, tax bill batter Magnum shares

Magnum Bhd dropped by a tenth to RM1.88 on Monday after the group revealed weaker earnings for the first three months to end-March and a hefty tax bill of nearly 477 million ringgit (S$153 million) issued by the taxmen seeking to claw back revenue.

PHOTO: BLOOMBERG

Kuala Lumpur

MAGNUM Bhd dropped by a tenth to RM1.88 on Monday after the group revealed weaker earnings for the first three months to end-March and a hefty tax bill of nearly 477 million ringgit (S$153 million) issued by the taxmen seeking to claw back revenue.